When attracting talent to an organization, the search process requires a lot of effort from all parties. The company He feels so much pressure to get that scarce talent that he has to hire a consulting firm to assist in sweeping the market. At the same time, Candidates who participate in the process invest time and energy to ensure they make the best possible impression.
Even candidates who are not actively looking for work end up finding themselves immersed in a rethinking of their existence. The mere fact of participating in a selection process makes one end up questioning issues in their personal and work life that they thought were resolved.
Once the entire process is completed, and with the finalist candidate chosen, the company You have the great challenge of presenting an economic job proposal that seduces you enough to accept the new position. It is a super complex moment within the process because there are infinite variables at play.
Many organizations think that salary is merely the economic package offered to an entering profile, but it is much more complex than that. Compensation is divided into remunerative salary and emotional salary.
What does emotional salary consist of?
It is the non-monetary reward that employees receive from their jobs and that contributes to their emotional well-being and job satisfaction. This part of the salary is defined by the culture that an organization has.
It is what the candidate finally perceives regarding how cared he feels he will be in the new company. It’s really a “go or no go” when it comes to accepting a new job position.
What elements can be included in the emotional salary?
- The most common is hybridity. The belief that you go to the office solely with purpose is a great benefit that is highly valued by employees. Unfortunately, for different reasons, some organizations have decided to modify hybridity policies worldwide.
- Benefits that promote work-life balance, such as additional days off. The simplest way to attract talent is to offer a schedule of achievement by objectives and flexible vacations.
- Flex time policies.
- Policies that allow working from different locations.
- Career development opportunities within the organization.
- Training opportunities.
- Closeness with the leaders of the organization.
- Frequent meetings to have feedback.
- Participation in decision-making.
- Open communication and organizational transparency.
- Culture of diversity, equity and inclusion.
- Flat, non-hierarchical structures, where challenging is welcomed.
What are the benefits of having a robust policy that includes emotional pay?
- The productivity of the organization increases because employees are much more committed due to the good work environment.
- The company becomes attractive in the market due to its reputation, it makes it easier to incorporate scarce talent and lowers the level of turnover. Employees are less likely to seek new challenges in other companies.
- Commitment to the organization increases at all levels.
In summary, emotional salary constitutes a fundamental part of the compensation that employees receive for their work, and goes beyond the purely monetary aspect. It is the non-financial reward that influences your emotional well-being and job satisfaction, and that is built from the organizational culture. Investing in a strong emotional pay not only benefits employees, but also contributes to the long-term success and sustainability of the organization as a whole.
Managing Partner of Backer & Partners, specialized in executive search for Senior Management and Culture and Leadership Consulting.
Source: Ambito
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